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KPMG report: Shipping and offshore tax update (March 2026)

Global tax-related developments relevant for companies involved in shipping and related industries

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March 25, 2026

The KPMG member firm in the Netherlands has prepared a report that summarizes certain global tax-related developments that are relevant for companies involved in shipping and related industries.

Read the KPMG report (March 2026) that covers the following developments:

  • EU: The European Commission (EC) launched new strategies to boost investment, competitiveness, and sustainability in the maritime sector by better coordinating existing funding and accelerating decarbonization and modernization across ports and shipping.
  • Finland: The government proposed a clear tax framework for offshore wind farms in Finland’s exclusive economic zone (EEZ), reducing property taxes and harmonizing regulations to attract investment.
  • India: IFSC GIFT City is rapidly becoming a global maritime finance hub, offering extended tax holidays and incentives for ship leasing entities.
  • Argentina: The government issued Decree No. 105/2026, extending the deadline to join the large investments incentive regime (RIGI) by one year and updating the rules to promote offshore oil and gas projects with reduced investment thresholds.
  • Malta: The tax authority revised the rules regarding the preferential 15% rate for up to 15 years for highly skilled individuals in regulated sectors, including maritime and offshore oil and gas.
  • Morocco: The tax authority issued Circular No. 737, providing guidance regarding Morocco's 2026 Finance Law, which exempts all payments to nonresident companies for international maritime transport from withholding tax.
  • Netherlands: The government issued guidance regarding exemption from the EU/EEA flag requirement, qualification for tonnage tax for multipurpose vessels chartered exclusively for seabed exploration, possible repeal of the residence principle for seafarer wages on Dutch-flagged vessels, a new residence permit for seafarers working over 90 days in Dutch harbors.

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The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. KPMG LLP does not provide legal services.

The information contained herein is not intended to be “written advice concerning one or more Federal tax matters” subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230.

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